Inari makes mechanical thrombectomy solutions designed to treat peripheral vascular diseases. Stryker said the deal would be complementary to its neurovascular business.

Stryker said its planned acquisition of Inari Medical would strengthen its position in the peripheral vascular market.

Medical-device maker Stryker on Monday agreed to acquire Inari Medical , which makes devices that treat patients with venous diseases, in an all-cash deal worth $4.9 billion.

Key Takeaways Shares of Inari Medical surged Monday afternoon and again Tuesday morning as reports of an imminent acquisition by Stryker turned into reality.Stryker will acquire Inari in an all-cash deal for $80 per share,